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12 Jan 2018
A consumer consumes two normal goods, coffee and chocolate. The price of coffee rises. The income effect, by itself, suggests that the consumer will consume
Answer:
a. more coffee and more chocolate.
b. less coffee and more chocolate.
c. less coffee and less chocolate.
d. more coffee and less chocolate.
A consumer consumes two normal goods, coffee and chocolate. The price of coffee rises. The income effect, by itself, suggests that the consumer will consume
Answer:
| a. | more coffee and more chocolate. | |
| b. | less coffee and more chocolate. | |
| c. | less coffee and less chocolate. | |
| d. | more coffee and less chocolate. |
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